Tangible Investments

August 22

2016

Weekly Gold Market News

Fed Policymakers Turn Hawkish On Rate Hike

Los Angeles CA, (Tangible Investments) - by James O'Dell - Gold and Silver prices were lower in early trading on Monday with Gold down 0.46 percent to $1,335.60 an ounce after easing $12.10 or 0.89 percent on Friday to finish the week at $1,341.80 an ounce.

The price of Silver is down 2.06 percent to $18.93 an ounce, after sliding $0.43 or 2.18 percent on Friday to end the week at $19.33 an ounce while the Gold/Silver ratio rose to 69.42. Platinum is down 0.27 percent to $1,114.50 an ounce and Palladium is down 0.56 percent to $706.50.

The week began with Gold edging higher as the dollar softened after retail sales and the Producer Price Index (PPI) missed expectations the previous week, which lowered expectations for a rate hike later this year. The day showed no improvement in economic data, as the Empire State manufacturing surveyshowed the business conditions index reading falling to a minus 4.21 from plus 0.55 in July.

Gold rose in early trading on Tuesday, bolstered by a softer dollar that reached a seven week low overnight, but comments from Fed officials sparked a rebound in the dollar knocking Gold off its intraday highs. New York Fed President William Dudley told Fox Business that a rate hike by the Fed is gettingcloser possibly as early as September. Dudley seems to think the market is underpricing the potential of a rate hike due to his expectation that the economywill recover further in the second-half.

The yellow metal rose on Thursday, bolstered by a weaker dollar after minutes from the July meeting of the Federal Open Market Committee (FOMC) showed policymakers were split over an early rate hike. While officials were largely upbeat on the economy and labor market, many said that a decline in future hiringwould argue against any near term rate hike.

On Friday, Dallas Fed President Robert Kaplan, said that he still sees little room to maneuver on rates. But despite the clearly hawkish message from the Fed all week, the markets are still pricing in just a 20 percent chance for a rate hike in September.That drops to less than a 50 percent chance for a move by year-end, says BNP Paribas. "Still range bound, Gold looks to break through USD $1,360 as thepossibility of a September rate rise tempers," said MKS PAMP Group, in a note.

Meanwhile, U.S. Mint Principal Deputy Director Rhett Jeppson will be hosting a one-day numismatic forum on Oct. 13 in Philadelphia, in an effort to boost interest in coin collecting. Further details will be forthcoming, according to Tom Jurkowsky, head of the Mint’s Office of Corporation Communications.

“We want to explore and try to find new ways to stimulate interest in coin collecting,” said Jurkowsky. “Coins connect and touch people. They provide links to our country’s financial fabric. Coins are metallic footprints of our nation’s history.” The U.S. Mint will be celebrating its 225th anniversary next year.

Preserve your wealth and secure your retirement by making a tangible investment in physical Gold and Silver in 2016. Call Toll Free 1.888.655.9255 and allow the friendly staff at Tangible Investments owned and operated by world-renowned coin expert Silvano DiGenova, to assist you in your next purchase or sale.Click here to check out our eBay store.

You may also want to allow one of our Gold IRA specialists to construct for you a precious metals IRA tailored to your specific needs. We hope you will share our site with your friends on Twitter and Facebook. Tangible Investments remains the leading buyer of rare objects including: Gold and Silver coins, art,antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost, come in or call 1.888.655.9255now for a free quote.

Latest Spot Prices

METALBIDASKCHG$CHG%
Gold1317.301318.00$4.100.31%
Silver18.4718.51$0.191.02%
Platinum1072.601075.60$1.900.18%
Palladium685.90688.90$2.100.30%

Other News This Week

Yellen Remarks Trigger Gold Volatility

Los Angeles CA, August 26 (Tangible Investments) - by James O Dell - Precious metals prices are higher in early trading on Friday with Gold up 0.85 percent to $1,333.10 an ounce after easing $2.00... [Read More]

Investors Shift Focus To Jackson Hole Symposium

Los Angeles CA, August 25 (Tangible Investments) - by James O Dell - Gold and Silver prices were mixed in early trading on Thursday with Gold down 0.20 percent to $1,321.20 an ounce after sliding... [Read More]

Gold Recycling Industry Making Comeback

Los Angeles CA, August 24 (Tangible Investments) - by James O Dell - Precious metals prices dipped sharply in early trading on Wednesday with Gold down 0.67 percent to $1,329.20 an ounce after easing $1.00... [Read More]

Uncertain Fed Sparks Bargain Hunting

Los Angeles CA, August 23 (Tangible Investments) - by James O Dell - Precious metals prices edged higher in early trading on Tuesday with Gold up 0.19 percent to $1,341.70 an ounce after easing $2.70... [Read More]

Trading Range Tightens In Gold

Los Angeles CA, August 22 (Tangible Investments) - by James O Dell - Gold and Silver prices were lower in early trading on Monday with Gold down 0.46 percent to $1,335.60 an ounce after easing... [Read More]

About Tangible Investments

Led by renowned coin expert Silvano DiGenova, Tangible Investments is a leader in the Gold IRA, Bullion, Rare Coins, Jewelry, Fine Watches, Fine Art, and Antiques markets. With 30+ years in business and a collective 200+ years of industry experience, Tangible Investments is one of America's most successful rare coin traders and the top buyer in the country. Call Us Today at 1-888-655-9255 to see how we can help you diversify your portfolio and protect your retirement savings.

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